Common use of FOREIGN EXCHANGE CONTROL Clause in Contracts

FOREIGN EXCHANGE CONTROL. 17.1. All matters in relation to foreign exchange control of the JVC shall be dealt in accordance with the Regulations on Foreign Exchange Control of the People’s Republic of China. 17.2. The JVC shall open a foreign currency account with a bank authorized by PRC Laws to accept foreign exchange business. The foreign currency revenue of the JVC shall be deposited in such account. 17.3. After paying relevant income tax and other expenses , the Parties shall assist its foreign and Hong Kong expatriate staff and workers of the JVC in applying for permission to remit abroad their remaining income in accordance with the relevant PRC Laws. 17.4. In accordance with the relevant PRC Laws, Party B may freely convert to foreign currencies the dividends derived from the JVC and remit outside China, and Party A shall assist the JVC in applying for remittance of such profits. 17.5. The JVC shall be responsible for balancing its foreign exchange revenues and expenditures and generating profits. [**] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission.